GREENWOOD OAKS BUSINESS CENTER

In December 2016, an affiliate of Larkspur acquired a 60,000 square foot business center in Indianapolis, IN. Greenwood Oaks was 75% occupied at the time of acquisition with local business and industrial use tenants. Having operated in foreclosure during the prior three years, Greenwood’s rents are significantly below market averages with over 60% of the rent roll expiring in the next 15 months.

Larkspur expects to make minor improvements to the property including exterior re-finishing and painting, updated signage and selected interior upgrades to drive rental rates closer to market averages.